Latin America’s (LATAM) centralized crypto exchanges grew from area of interest platforms into important monetary infrastructure in three years, with flows growing ninefold, in response to new analysis.
Dune Analysis’s LATAM Report revealed that 2021 annual crypto change flows within the area totaled $3 billion. In 2024, the whole change flows for LATAM reached $27 billion, up by 800%, signaling sturdy regional digital asset development.
In its early years, LATAM crypto exercise was modest by international requirements. Nonetheless, a fragmented ecosystem of small brokers and over-the-counter (OTC) desks grew into built-in exchanges serving retail and institutional shoppers.
In line with Dune Analytics, flows from early 2021 to mid-2025 by way of LATAM-based centralized change platforms confirmed a transparent arc of “development maturity and consolidation.”
Bitso stays probably the most dominant LATAM change by flows
Since 2021, crypto change Bitso has dominated the Latin American market. On the time, the change processed over $2 billion in flows, greater than 66% of all of the flows within the area.
In 2024, the change processed greater than $25.2 billion in flows, or 1,160% development in three years. Its share of change flows grew to 93% throughout the identical interval.
Except for Bitso, gamers like Mercado Bitcoin and Lemon Money additionally noticed elevated change flows. The Dune report additionally highlighted that the circulation improve occurred and not using a sustained bull run.
“Crucially, this development got here and not using a sustained bull market, reflecting a shift towards real-world utility resembling cross-border commerce, remittance settlements, and forex hedging,” Dune mentioned.
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Ethereum accounted for over $45.5 billion in total flows since 2021
The report confirmed that Ethereum-based transfers dominated the market. From January 2021 to July 2025, community transfers have reached over $45.5 billion. This quantity is roughly 75% of all recorded flows all through the interval.
The report mentioned that Tron ranked second by way of transfers, with over $12.5 billion. The report mentioned this was largely pushed by low-cost Tether (USDT) transfers within the community.
As of Tuesday, Tron holds the most important quantity of USDT, with $81.8 billion in tokens circulating on the community, in response to Tether. Ethereum follows with $80.3 billion.
Solana ranks third in LATAM with $1.45 billion in whole flows, whereas Polygon follows with $1.17 billion.
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